Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: GRVT against Lighter+0.335%108s7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.352% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)−0.573%−$57 · spread now +0.335%, 7d avg −0.023%

Together, before fees−0.714%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$71 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.359% dearer against Lighter than usual: you sell high and buy low, +$36 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1815	0.0096	pay 0.0012% / 1h	25m 46s	$978K	$740K	10x
Short	GRVT TRUMP_USDT_Perp	2.1888	0.0100	get 0.0050% / 4h	25m 46s	$183K	$4.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee GRVTbpOrdersPrice spread, now +0.335%Rate

Funding earned: $0.84
Price spread: +0.335% → −0.023%: $35.86
Slippage, 4 orders: −$26.21
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $1.49
Costs to cover: 0.352%
Break-even: from the start

Slippage from Lighter: live order book, 50 min ago; GRVT: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 50 min ago	1.60 bp	5.4 bp −$5	18.6 bp −$186	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	4.57 bp	13.6 bp −$14	20.6 bp −$206	doesn't fit	doesn't fit

TRUMP on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective TRUMP/USDC PERP	−0.1537%	1h	2.1770	−0.206%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1852	+0.171%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1840	+0.115%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1847	+0.147%	$410K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1853	+0.173%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1889	+0.340%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1850	+0.160%	$3K	$249K	10x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.1815	long leg	$978K	$740K	10x
Paradex TRUMP-USD-PERP	+0.0097%	8h	2.1861	+0.210%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1867	+0.237%	$455K	$832K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1826	+0.048%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1820	+0.023%	$62.6M	$225.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1810	−0.023%	$30.7M	$44.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1810	−0.023%	$27.1M	$152.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1850	+0.160%	$7.4M	$48.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1820	+0.023%	$478K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1850	+0.160%	$4.4M	$10.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1850	+0.160%	$15.4M	$21.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	+0.218%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perpshort	+0.0100%	4h	2.1888	+0.335%	$183K	$4.5M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.1890	+0.344%	$1K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1845	+0.138%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.252%	$553K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1841	+0.120%	$75K	$469K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1839	+0.108%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1849	+0.158%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0313%	1h	2.1861	+0.211%	$14.1M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1890	+0.344%	$4.2M	$635K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+1.123%	$285K	$391K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0480%	1h	2.1861	+0.211%	$256K	$281K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0874%	1h	2.1869	+0.246%	$1.3M	$2.5M	50x	as long as short